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ASX to administer BBSW rate

AAP logoAAP 1/12/2016

The Australian Financial Markets Association has announced that it will transfer administration of the benchmark Bank Bill Swap (BBSW) rate to the Australian Securities Exchange from January 1, 2017.

AFMA will, however, continue as the BBSW calculation agent until mid-2017.

Australia's corporate watchdog recently undertook separate court action against NAB, ANZ and Westpac over allegations that the lenders engaged in market manipulation in relation to the key interest rate benchmark.

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